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Cousins Properties Inc. (CUZ) Financials

CUZ
FY2025 annual
Revenue $993.8M +16.0% YoY
Net Income $40.5M -11.9% YoY
EPS (Diluted) $0.24 -20.0% YoY
Free Cash Flow $135.0M -8.4% YoY
Market Cap $4.6B as of Oct 13, 2026
Price / Sales 4.4x on $1.0B revenue, trailing 12 months to June 30, 2026
Price / Earnings 713x on $6.4M net income, trailing 12 months to June 30, 2026
Price / Book 1.0x on $4.5B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CUZ SEC filings page.

Cousins Properties Inc. (CUZ) reported $993.8M in revenue for fiscal year 2025, up 16.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CUZ FY2025

Cousins Properties runs an asset-heavy, debt-funded property business where operating economics strengthen, but rising interest expense suppresses reported earnings.

Operating margin reached 67.8% in FY2025 while net margin was only 4.1%. That spread widened as interest expense climbed to $159M from $67M in FY2021, indicating financing—not property-level operations—absorbed much of the improvement.

Operating cash flow was $402M in FY2025, but free cash flow was $135M. The gap corresponds closely to $267M of capital expenditures, showing that property reinvestment consumes most internally generated cash before dividends; the year's payout was therefore not fully covered by free cash flow.

Debt-to-equity rose from 0.5x to 0.7x between FY2021 and FY2025, making interest sensitivity a larger part of earnings interpretation. By FY2025, total liabilities were $4.2B while net income was only $41M, so the balance sheet's scale—not accounting profit alone—defines the financial profile.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

FFO Margin FFOGrowth Leverage Interest Cov. AFFOMargin DividendCov. 71 / 100
Financial Health Score 71/100
Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Cousins Properties Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin
77

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Cousins Properties Inc. scores 77/100 on it among other REITs.

FFO Growth
58

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Cousins Properties Inc. scores 58/100 on it among other REITs.

Leverage
81

Cousins Properties Inc.'s net debt of $3.3B, being $3.3B of long-term debt less $5.7M of cash, came to 3.06 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Cousins Properties Inc. scores 81/100 among other REITs.

Interest Cov.
84

Cousins Properties Inc.'s operating income of $673.3M covered its interest expense of $159.2M 4.23 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Cousins Properties Inc. scores 84/100 among other REITs.

AFFO Margin
50

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Cousins Properties Inc. scores 50/100 on it among other REITs.

Dividend Cov.
77

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Cousins Properties Inc. scores 77/100 on it among other REITs.

Piotroski F-Score Partial
5/8

Cousins Properties Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed
9.93x

For every $1 of reported earnings, Cousins Properties Inc. generates $9.93 in operating cash flow ($402.3M OCF vs $40.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
4.23x

Cousins Properties Inc. earns $4.23 in operating income for every $1 of interest expense ($673.3M vs $159.2M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$268.5M
YoY+11.8%
QoQ+2.1%
5Y CAGR+7.5%
10Y CAGR+18.7%

Cousins Properties Inc. generated $268.5M in revenue in Q2 2026. This represents an increase of 11.8% from the same quarter a year earlier. Against the prior quarter it is up 2.1%.

EBITDA
$287.2M
YoY+7.3%
QoQ-0.4%
5Y CAGR+8.1%
10Y CAGR+14.3%

Cousins Properties Inc.'s EBITDA was $287.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.3% from the same quarter a year earlier. Against the prior quarter it is down 0.4%.

Net Income
$26.2M
YoY+80.6%
QoQ+205.2%
5Y CAGR-1.5%
10Y CAGR+12.9%

Cousins Properties Inc. reported $26.2M in net income in Q2 2026. This represents an increase of 80.6% from the same quarter a year earlier. Against the prior quarter it is up 205.2%.

EPS (Diluted)
$0.16
YoY+77.8%
QoQ+206.7%
5Y CAGR-3.4%
10Y CAGR+14.9%

Cousins Properties Inc. earned $0.16 per diluted share (EPS) in Q2 2026. This represents an increase of 77.8% from the same quarter a year earlier. Against the prior quarter it is up 206.7%.

Cash & Balance Sheet

Cash & Debt
$6.7M
YoY-98.4%
QoQ+6.4%
5Y CAGR-7.3%
10Y CAGR+21.6%

Cousins Properties Inc. held $6.7M in cash against $3.7B in long-term debt as of Q2 2026.

Dividends Per Share
$0.32
YoY0.0%
QoQ0.0%
5Y CAGR+0.6%
10Y CAGR+14.9%

Cousins Properties Inc. paid $0.32 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding
165M
YoY-2.0%
QoQ0.0%
5Y CAGR+2.1%
10Y CAGR-2.4%

Cousins Properties Inc. had 165M shares outstanding in Q2 2026. This represents a decrease of 2.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Gross Margin
68.5%
YoY-0.6pp
QoQ-0.1pp
5Y change+2.6pp

Cousins Properties Inc.'s gross margin was 68.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Operating Margin
67.9%
YoY-1.5pp
QoQ-0.5pp
5Y change+2.2pp

Cousins Properties Inc.'s operating margin was 67.9% in Q2 2026, reflecting core business profitability. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.

Net Margin
9.7%
YoY+3.7pp
QoQ+19.2pp
5Y change-5.3pp
10Y change-6.3pp

Cousins Properties Inc.'s net profit margin was 9.7% in Q2 2026, showing the share of revenue converted to profit. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 19.2 percentage points.

Return on Equity
0.6%
YoY+0.3pp
QoQ+1.1pp
5Y change-0.1pp
10Y change+0.1pp

Cousins Properties Inc.'s ROE was 0.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.

Capital Allocation

None of these metrics is reported for Q2 2026.

CUZ Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CUZ quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$268.5M+11.8%$263.1M+5.1%$255.0M+13.2%$248.3M+18.7%$240.1M+12.7%$250.3M+19.6%$225.3M+14.4%$209.2M+5.2%
Cost of Revenue$84.7M+14.1%$82.6M+7.0%$83.1M+14.0%$80.0M+21.2%$74.2M+5.0%$77.2M+8.6%$72.9M+15.3%$66.0M+1.8%
Gross Profit$183.9M+10.8%$180.5M+4.2%$171.9M+12.8%$168.3M+17.5%$165.9M+16.6%$173.2M+25.3%$152.4M+14.0%$143.2M+6.9%
Operating Income$182.3M+9.4%$180.1M+9.0%$172.2M+16.1%$169.2M+19.1%$166.7M+18.0%$165.2M+19.2%$148.3M+10.5%$142.1M+5.3%
EBITDA$287.2M+7.3%$288.5M+7.9%$279.3M+15.4%$274.5M+18.4%$267.6M+13.0%$267.3M+18.9%$241.9M+13.3%$231.9M+8.2%
Interest Expense$47.1M+22.2%$45.1M+22.6%$42.5M+28.5%$41.5M+34.8%$38.5M+29.5%$36.8M+27.2%$33.1M+20.4%$30.8M+13.9%
Net Income$26.2M+80.6%-$24.9M-218.9%-$3.5M-125.4%$8.6M-23.3%$14.5M+84.7%$20.9M+57.3%$13.6M-27.4%$11.2M-42.2%
EPS (Basic)$0.16+77.8%-$0.15-225.0%-$0.02-122.2%$0.05-28.6%$0.09+80.0%$0.12+33.3%$0.09-30.8%$0.07-46.2%
EPS (Diluted)$0.16+77.8%-$0.15-225.0%-$0.02-122.2%$0.05-28.6%$0.09+80.0%$0.12+33.3%$0.09-30.8%$0.07-46.2%
Diluted Shares (Avg)165M-2.1%166M-1.3%N/A169M+10.4%169M+10.6%169M+10.6%N/A153M+0.5%

Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses, Income Tax.

CUZ Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CUZ quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$9.0B-0.1%$9.1B+4.9%$8.9B+1.0%$8.9B+14.5%$9.1B+17.5%$8.7B+12.8%$8.8B+15.3%$7.8B+2.4%
Cash & Equivalents$6.7M-98.4%$6.3M+18.1%$5.7M-22.2%$4.7M-93.9%$416.8M+6901.0%$5.3M-2.2%$7.3M+21.5%$76.1M+999.4%
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Goodwill$1.7M0.0%$1.7M0.0%$1.7M0.0%$1.7M0.0%$1.7M0.0%$1.7M0.0%$1.7M0.0%$1.7M0.0%
Total Liabilities$4.5B+7.0%$4.6B+19.0%$4.2B+6.5%$4.1B+24.4%$4.3B+31.9%$3.8B+20.8%$3.9B+27.4%$3.3B+10.7%
Long-Term Debt$3.7B+7.3%$3.8B+24.9%$3.3B+7.9%$3.3B+24.4%$3.5B+34.4%$3.0B+17.8%$3.1B+26.0%$2.7B+10.0%
Total Equity$4.5B-6.2%$4.5B-6.3%$4.7B-3.4%$4.7B+7.2%$4.8B+7.3%$4.8B+7.2%$4.8B+7.1%$4.4B-3.0%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Retained Earnings.

CUZ Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CUZ quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow$156.5M+27.7%$40.5M-9.6%$114.5M-11.3%$120.5M+2.6%$122.6M-2.4%$44.8M+58.2%$129.0M+42.0%$117.4M+0.8%
Depreciation & Amortization$104.8M+3.9%$108.4M+6.2%$107.1M+14.4%$105.3M+17.3%$100.9M+5.7%$102.1M+18.4%$93.6M+18.0%$89.8M+12.9%
Stock-Based CompensationN/AN/AN/AN/AN/AN/AN/A$3.5M+24.0%
Investing Cash Flow-$36.4M+67.6%-$323.0M-470.7%-$90.1M+91.4%-$310.1M-327.1%-$112.5M-15.6%$87.1M+203.8%-$1.1B-1157.2%-$72.6M-16.3%
Financing Cash Flow-$119.7M-129.8%$283.1M+311.4%-$23.3M-102.7%-$222.6M-976.0%$401.5M+1550.0%-$133.9M-343.2%$853.7M+10662.9%$25.4M+146.1%
Dividends Paid$52.7M-2.0%$55.3M+1.3%$53.7M+10.4%$53.8M+10.4%$53.7M+8.6%$54.6M+12.3%$48.7M+0.4%$48.7M+0.2%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

CUZ Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CUZ quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Gross Margin68.5%-0.6pp68.6%-0.6pp67.4%-0.2pp67.8%-0.7pp69.1%+2.3pp69.2%+3.1pp67.6%-0.2pp68.5%+1.1pp
Operating Margin67.9%-1.5pp68.4%+2.4pp67.5%+1.7pp68.1%+0.2pp69.4%+3.1pp66.0%-0.2pp65.8%-2.3pp67.9%+0.1pp
Net Margin9.7%+3.7pp-9.4%-17.8pp-1.4%-7.4pp3.5%-1.9pp6.0%+2.4pp8.3%+2.0pp6.0%-3.5pp5.3%-4.4pp
Return on Equity0.6%+0.3pp-0.5%-1.0pp-0.1%-0.4pp0.2%-0.1pp0.3%+0.1pp0.4%+0.1pp0.3%-0.1pp0.3%-0.2pp
Return on Assets0.3%+0.1pp-0.3%-0.5pp0.0%-0.2pp0.1%0.0pp0.2%+0.1pp0.2%+0.1pp0.1%-0.1pp0.1%-0.1pp
Debt-to-Equity0.83+0.1x0.84+0.2x0.71+0.1x0.70+0.1x0.73+0.1x0.63+0.1x0.64+0.1x0.60+0.1x
Asset Turnover0.030.0x0.030.0x0.030.0x0.030.0x0.030.0x0.030.0x0.030.0x0.030.0x

Not reported in any period shown, so not listed: Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Cousins Properties Inc. CUZ FY2025 $993.8M $40.5M 4.1% $4.6B 71/100
SL Green Realty Corp. SLG FY2025 $1.0B -$96.9M -9.7% $3.5B 27/100
Kilroy Realty Corp. KRC FY2025 $1.1B $303 0.0% $4.0B 34/100
COPT Defense Properties CDP FY2025 $763.9M $159.5M 20.9% $3.8B 50/100
Douglas Emmett, Inc. DEI FY2025 $1.0B $16.3M 1.6% $1.7B 44/100
Vornado Realty Trust VNO FY2025 $1.8B $937.0M 51.8% $6.3B 59/100

Frequently Asked Questions

What is Cousins Properties Inc.'s annual revenue?

Cousins Properties Inc. (CUZ) reported $993.8M in total revenue for fiscal year 2025. This represents a 16.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Cousins Properties Inc.'s revenue growing?

Cousins Properties Inc. (CUZ) revenue grew by 16.0% year-over-year, from $856.8M to $993.8M in fiscal year 2025.

Is Cousins Properties Inc. profitable?

Yes, Cousins Properties Inc. (CUZ) reported a net income of $40.5M in fiscal year 2025, with a net profit margin of 4.1%.

Cousins Properties Inc. (CUZ) reported diluted earnings per share of $0.24 for fiscal year 2025. This represents a -20.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cousins Properties Inc. (CUZ) had EBITDA of $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Cousins Properties Inc. (CUZ) had $5.7M in cash and equivalents against $3.3B in long-term debt.

Cousins Properties Inc. (CUZ) had a gross margin of 68.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Cousins Properties Inc. (CUZ) had an operating margin of 67.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Cousins Properties Inc. (CUZ) had a net profit margin of 4.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Cousins Properties Inc. (CUZ) paid $1.28 per share in dividends during fiscal year 2025.

Cousins Properties Inc. (CUZ) has a return on equity of 0.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Cousins Properties Inc. (CUZ) generated $135.0M in free cash flow during fiscal year 2025. This represents a -8.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Cousins Properties Inc. (CUZ) generated $402.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Cousins Properties Inc. (CUZ) had $8.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Cousins Properties Inc. (CUZ) invested $267.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Cousins Properties Inc. (CUZ) had 168M shares outstanding as of fiscal year 2025.

Cousins Properties Inc. (CUZ) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Cousins Properties Inc. (CUZ) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Cousins Properties Inc. (CUZ) trades at 713x earnings, its market capitalization divided by net income of $6.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $4.6B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Cousins Properties Inc. (CUZ) trades at 4.4x sales, its market capitalization divided by revenue of $1.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.6B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Cousins Properties Inc. (CUZ) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Cousins Properties Inc. (CUZ) has an earnings quality ratio of 9.93x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Cousins Properties Inc. (CUZ) has an interest coverage ratio of 4.23x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Cousins Properties Inc. (CUZ) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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